Intelligence Network Effect is the most powerful asset of a digital network: since the basic Metcalfe's law, digital networks have evolved into self-readjusting systems recursively gaining dominance through persistent data accumulation amplified by layers of adaptive learning.
At this point in time, it seems there is almost no chance to dislodge incumbents regardless of the quality of alternative consumer products, their incentive schemes or their governance structure. The power of adaptive learning combined with sunk cost makes it impossible for new networks to emerge meaningfully.
In order to address this issue, Newcoin introduces a new paradigm for network intelligence: blending open algorithms and decentralized identity proxies, Newcoin offers the rails for network intelligence synergy.
Newcoin is a log of cryptographically signed credentials that are processed in parallel using a probabilistic state machine to achieve a shared consensus state powered by the Proof-of-Creativity algorithm. Proof-of-Creativity generates an algoritmic identity proxy allowing networks to enhance the discernment of value creation by network participants, akin to Google's PageRank, applied to decentralized identity systems.
Beyond its ability to coordinate networks through a robust weight abstraction hypernetwork, Newcoin allows users to navigate and accrue social capital across networks of various topologies: from social to neural to blockchain networks, users compound social capital and establish trusted connections, financial and utility benefits.
At the foundation of Newcoin lies a series of cryptographically signed statements. These immutable attestations capture interactions, peer-reviews, and other forms of creative value assessments among participants, ensuring data integrity and non-repudiation.
Newcoin's consensus mechanism, the probabilistic state machine, processes these signed statements in parallel. This asynchronous, decentralized algorithm ensures an 'eventually consistent' shared state across nodes, even amidst disparate data states.
Central to Newcoin's proposition is the Proof-of-Creativity algorithm. This meta-algorithm ingests aggregated data objects, applying a complex weighting mechanism, democratically determined by network participants. Through logarithmic scaling and normalization techniques, it outputs a definitive score: the WATT.
- Data Authentication: Ensuring data integrity through cryptographic hashing and digital signatures.
- Data Normalization: Proprietary algorithms that transform platform-specific metrics into a universal PowerUP data schema.
- Scalability: A horizontally scalable system, facilitated by the probabilistic state machine.
- Interoperability: Agnostic to data sources, schemas, and computing paradigms, Newcoin ensures seamless integration across platforms.
- Deterministic Outcomes: Despite its probabilistic nature, the WATT score provides a deterministic evaluation of a creator's value, echoing computational methods akin to Bitcoin's hash power and Google's PageRank.
Proof-of-Creativity is more than just an algorithm; it's the linchpin of networks. As creators invest time and creative energy into building their digital presence, a sunk cost accumulates, locking them into specific platforms. This concept, exemplified by significant acquisitions like Elon Musk's purchase of Twitter, underscores the immense value of Proof-of-Creativity.
Historically, Proof-of-Creativity began as Google's PageRank algorithm, which utilized hyperlinks to establish web page scores. Fast forward, platforms like TikTok have revolutionized this by introducing algorithmic discoverability engines. However, these mechanisms remain confined to monolithic platforms, introducing biases and restricting creators.
Imagine a world where networks collaboratively share their mechanistic and algorithmic scores, creating a universal Proof-of-Creativity for all creators. Newcoin is not just a vision but a reality, actively integrating with networks and onboarding creators from diverse domains.
Newcoin's qualitative sybil resistance approach elevates the Proof-of-Personhood concept, unlocking novel economic primitives:
- Make AI Smarter: Enhance AI models with the WATT score, adding nuance from the foundational model to fine-tuning and human feedback measurement in RLHF.
- Make Web3 Smarter: Utilize the WATT for weighted airdrops, DAO voting, NFT marketplaces, gas fee subsidies, and network protection.
- Make Social Smarter: Introduce an alternative to engagement-based algorithms, using the WATT to reward positive contributions and turbocharge discoverability.
The NCO token mechanistically captures value, necessitating NCO staking for each validation. As validators and creators earn exchange fees from validations, the demand for NCO surges, while supply diminishes.
Join us in revolutionizing the creative economy, making networks smarter, and shaping the future of decentralized systems.